Brazilian food processor to invest $9.8 billion by 2030

BRF SA aims to expand its business
calendar icon 8 December 2021
clock icon 1 minute read

Brazilian food processor BRF SA has said it will invest 55 billion reais ($9.8 billion) by 2030 to expand the business.

The world's largest chicken exporter also said net revenues are projected to reach 65 billion reais a year by 2024 as it executes its growth plan, reported Reuters.

BRF, which unveiled its "2030 Vision" a year ago, will review and discuss the company's targets at an event with analysts on Wednesday.

In the first year of the plan's implementation, investments were made in production units in Brazil which have led to a 30% increase in the production of high added value items, the company said in a separate press release.

BRF, which also processes pork and sells ready-made meals on the domestic market, is looking to expand its portfolio of alternative proteins, and now offers a 10-item plant-based line.

The company is also betting on the pet food market. After buying pet food companies Grupo Hercosul and Mogiana in Brazil, BRF is now among the country's top three companies in this segment, it said.

Source: Reuters

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